Atomic has raised $10 million in a strategic spherical led by Capital One Ventures, Citi Ventures, and FNB Company, bringing its whole funding to just about $79 million.
Atomic gives APIs that join payroll and HRIS techniques to monetary establishments, supporting providers like direct deposit switching, earnings verification, and subscription administration.
With backing from high banks and FNB as each an investor and a shopper, Atomic goals to gas deposit development and energy the following wave of customized, real-time monetary providers.
Monetary connectivity fintech Atomic is the most recent fintech basking on this 12 months’s fintech spring. The Utah-based firm introduced it has raised $10 million, including to its $68.6 million beforehand raised, bringing its whole funding to nearly $79 million.
At present’s strategic spherical comes from Capital One Ventures, Citi Ventures, and FNB Company, which be part of Atomic’s earlier traders Greylock, Portage Ventures, ATX Enterprise Companions, Mercato Companions, and Core Innovation Capital.
Atomic, based in 2019, goals to attach client knowledge with fashionable monetary options. The corporate companions with eight of the highest 10 US monetary establishments, together with many main fintechs, to supply seamless entry to a collection of providers—together with direct deposit switching, earnings and employment verification, cost methodology updates, and subscription administration—by means of integrations with payroll techniques, HRIS platforms, and retailers.
Atomic stated the brand new funding will gas each innovation and growth. The corporate plans to deepen its funding in current options whereas additionally accelerating the event of latest merchandise to raised serve its monetary establishment and fintech companions.
“We’re excited to have these business leaders be part of us on our mission to champion upward monetary mobility,” stated Atomic Co-founder and CEO Jordan Wright. “Collectively, we’re constructing the infrastructure that can drive the following era of economic merchandise and unlock deposit development, in addition to improved experiences for our clients and the shoppers that work with them.”
Along with investing in Atomic, FNB can be a shopper of the fintech. FNB tapped Atomic to decrease acquisition prices, enhance lifetime worth, and turn out to be shoppers’ main monetary hub.
“By means of our omnichannel Clicks-to-Bricks technique and eStore, FNB is pushed to stay a banking business chief in shopper engagement and innovation. We are going to proceed to put money into and develop inventive know-how options that convey the total array of banking services and products to our digital platform and department system,” stated FNB Company President and Chief Government Officer Vincent J. Delie, Jr. “Our funding in Atomic is one other funding in the way forward for banking. By integrating their options with eStore, we are able to provide our clients extra customized, real-time monetary providers that meet their wants in immediately’s fast-paced world.”
Atomic most lately demoed at FinovateSpring 2024, the place the corporate showcased PayLink, a instrument to simplify subscription administration by permitting shoppers to handle, modify, and optimize their recurring funds and subscriptions inside their financial institution.
Picture by Jakub Zerdzicki
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